Forex Top Team

Reactions to dollar selling No direct mention of economic or policy prospects

Fed Chairman Powell’s remarks at an international symposium hosted by the Swedish central bank have been reported, but the foreign exchange market is reacting by selling the dollar. The chair made no direct reference to the economic or policy outlook at the preliminary draft stage.

There was a movement to buy the dollar around New York time due to a sense of caution that the market might make hawkish remarks, but it seems that there is no movement to reverse it.

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